kindly tell the formula used in finding simple interest and compound interest for 10th standard - Maths - Arithmetic Progressions

Question

kindly tell the formula used in finding simple interest and
compound interest for 10th standard

Lalit Mehra · Accepted Answer

Dear Student! The simple interest (S I ) on the given sum of money Rs P at r % p a rate of interest for n years is given by, $S I = \frac{P \times r \times n}{100}$ The compound interest (C I ) on the given sum of money Rs P at r % p a rate of interest compounded annually for n years is given by, $C I = A m o u n t - \Pr i n c i p a l = P (1 + \frac{r}{100})^{n} - P$ Cheers!

kindly tell the formula used in finding simple interest and compound interest for 10th standard.